Company of Connect Yorkshire EIR David Richards, WANDisco will today launch an equity raise to generate a minimum of $10m capital funding to accelerate its growth.
In an update this morning, the software company said it was undertaking a placing through an accelerated bookbuild.
In addition, some existing shareholders intend to sell around 1,045,000 existing ordinary shares of 10 pence each in the capital of the company at the price of 550 pence. This includes directors David Richards and Yeturu Aahlad in respect of 845,000 sale shares.
It is expected that the placing, when launched later today, will be conducted at the same price of 550 pence per new ordinary share of 10 pence each in the capital of the Company.
WANDisco said: “WANdisco continues to experience strong organic revenue growth underpinned by its patented WANdisco Fusion (“Fusion”) data replication technology. The Company plans to use proceeds from the Placing to capitalise on this momentum and to accelerate its growth ambitions.”
WANdisco is the world leader in Active Data Replication. Its patented WANdisco Fusion technology enables the replication of continuously changing data to the cloud and on-premises data centers with guaranteed consistency, no downtime and no business disruption. It also allows distributed development teams to collaborate as if they are all working in one location.
WANdisco currently has two OEM relationships with IBM and Dell/EMC’s Virtustream as well as partnerships with Amazon Web Services, Cisco, Google Cloud, Hewlett Packard Enterprise, Microsoft Azure, and Oracle to resell its patented technology. WANdisco also works directly with Fortune 1000 companies around the world to ensure their data can give them the real insight they need.